Minister: It takes two to tango in corruption


PUCON (Chile): Corruption is a two-way street and fingers should not be pointed at the Government alone in this, International Trade and Industry Minister Datuk Seri Rafidah Aziz said. 

“It takes two to tango,” she told Bernama on Sunday at the end of the two-day meeting of the Apec ministers responsible for trade here. 

Rafidah was responding to an interim report prepared by the Apec Business Advisory Council (ABAC) that businesses had recognised the negative influence of corruption on business and trade in the Asia Pacific. 

ABAC had called on government leaders to encourage businesses to check bribery in government procurements, and urged businesses to ensure that charitable contributions and sponsorships were not used as a subterfuge for bribery. 

The report also made reference to contributions to political parties and individuals engaged in politics. 

ABAC said corruption was a scourge that undermined good governance, eroded the rule of law and hampered economic development. 

“Given that the perverse economic impact of corruption is large enough to derail fair trade, ABAC believes that this needs to be addressed forcefully by governments and businesses in the Apec region,” the business body said. 

It called for an Apec convention on combating bribery of foreign public officials in international business transactions to be held in conjunction with at next year's Apec Summit in Seoul. – Bernama  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

BNM grants MBSB extension until Jan 5 to conclude talks with PNB for MIDF acquisition
Bursa Malaysia publicly reprimands, fines Brem Holdings directors
ASNB declares income distribution of 3.75 sen per unit for ASM 3
UEM Edgenta to strengthen presence in Saudi Arabia with 60% investment in MEEM
Duopharma, govt execute agreement for insulin worth RM375.17mil via direct negotiation
Malaysia's inaugural RM4.5bil sustainability MGII oversubscribed by 2.38 times
Mudajaya secures RM56.93mil job for Senari Port project
DPI explores stake purchase in Australian aerosols manufacturer
Bursa ends flat with key index down on last trading day of 3Q
BNM updates FCA list to include three new schemes

Others Also Read